Basically, Day trading or short term trading till now tough here; only long term trading can help. I guess, using all of the major support levels with a little trade volume (based on traders capital) is a wise decision, instead of targeting any particular level or area. Since I'm optimistic about the future of BTC.
Topic: Bitcoin Market Analysis (Price Action). - page 2. (Read 433 times)
Basically, Day trading or short term trading till now tough here; only long term trading can help. I guess, using all of the major support levels with a little trade volume (based on traders capital) is a wise decision, instead of targeting any particular level or area. Since I'm optimistic about the future of BTC.
drawing two arrows going in opposite directions is barely an analysis 
and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not.
Yeah, I also found it funny how Bitcoin can either go up to $5k something or below $3k and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not.
IMO the price analysis thing does not make much sense even when the arrow points in one direction, though. As for the drops, I am with you on this matter. When the price was overhyped, it was going down because of minor things like social networks banning crypto ads or Asian countries regulating and almost banning ICOs. The $6k position was given up after the Faketoshi started doing crazy stuff and made Bitcoin SV. Something equally terrible should happen to make the price go down even more. Perhaps if Bakkt fails, this could be enough, but not some pseudo-experts saying bitcoin is worthless and stuff.The Bakkt failure is expected by the market and It shouldn't be considered as a surprise.Therefore,I don't think that the bitcoin price would crash because of the Bakkt project failure.I didn't understand OP's price analysis and why the bitcoin price should go to 5791 USD,but hey,price analysis is a learning process and the OP has to gain more knowledge and improve by practice.
drawing two arrows going in opposite directions is barely an analysis
and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not.
Yeah, I also found it funny how Bitcoin can either go up to $5k something or below $3k and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not.
IMO the price analysis thing does not make much sense even when the arrow points in one direction, though. As for the drops, I am with you on this matter. When the price was overhyped, it was going down because of minor things like social networks banning crypto ads or Asian countries regulating and almost banning ICOs. The $6k position was given up after the Faketoshi started doing crazy stuff and made Bitcoin SV. Something equally terrible should happen to make the price go down even more. Perhaps if Bakkt fails, this could be enough, but not some pseudo-experts saying bitcoin is worthless and stuff. 
Basically, Day trading or short term trading till now tough here; only long term trading can help. I guess, using all of the major support levels with a little trade volume (based on traders capital) is a wise decision, instead of targeting any particular level or area. Since I'm optimistic about the future of BTC.
You're giving us all 2 analysis options where prices will go in which direction, whether it's going up or down is something interesting in trading, so how are we going now, as long as the support of buying $ 6000 doesn't work and under $ 4000 doesn't produce support buys high, then where support buys very high and is awaited by all traders, if we touch below $ 2000 I think that's where they wait for the support to buy very high, thank you for your analysis, respect
Basically, Day trading or short term trading till now tough here; only long term trading can help. I guess, using all of the major support levels with a little trade volume (based on traders capital) is a wise decision, instead of targeting any particular level or area. Since I'm optimistic about the future of BTC.
i think these days only, the trading bitcoin is the hardest of all times. because it will either stay the same stable phase with little changes which makes profit making small or non-existent or it can make a sudden move in either direction which is unpredictable by the way, and that makes it impossible to make any decisions at this point.
i believe that is the main reason for lower volumes too. everyone is waiting for that signal to make their moves.
You're giving us all 2 analysis options where prices will go in which direction, whether it's going up or down is something interesting in trading, so how are we going now, as long as the support of buying $ 6000 doesn't work and under $ 4000 doesn't produce support buys high, then where support buys very high and is awaited by all traders, if we touch below $ 2000 I think that's where they wait for the support to buy very high, thank you for your analysis, respect
Basically, Day trading or short term trading till now tough here; only long term trading can help. I guess, using all of the major support levels with a little trade volume (based on traders capital) is a wise decision, instead of targeting any particular level or area. Since I'm optimistic about the future of BTC.
Hello BTC community;
I’m doing my trading based on Price Action strategy mainly & here is my thinking on BTCUSD right now:
According to the weekly chart; now we are in a range (between 4116.64 to 3247.81) after a long impulsive bearish move (from the level of 6306.91). The general rule of the trading market is: impulsive -->Corrective (range)--> then again impulsive.
So, I’ll not surprised if the market breaks nearest support level 2915.5! On the other hand, buyers need to make initial movements if they wanna start a bullish trend here; based on the daily chart 4116.64 is very vital level. Without breaking this level, there is no way to establish a bullish trend.
If the market breaks support level then the next support level will be 1975-1853.
Thank you;
It's hard to determine if the price of bitcoin will go down or go up. I think $5000 per bitcoin is still unpredictable because as now the price is around $3200. Your analysis about the price of bitcoin will might hit but I think right now the $5000 price of bitcoin is very impossible to hit. I’m doing my trading based on Price Action strategy mainly & here is my thinking on BTCUSD right now:
According to the weekly chart; now we are in a range (between 4116.64 to 3247.81) after a long impulsive bearish move (from the level of 6306.91). The general rule of the trading market is: impulsive -->Corrective (range)--> then again impulsive.
So, I’ll not surprised if the market breaks nearest support level 2915.5! On the other hand, buyers need to make initial movements if they wanna start a bullish trend here; based on the daily chart 4116.64 is very vital level. Without breaking this level, there is no way to establish a bullish trend.
If the market breaks support level then the next support level will be 1975-1853.
Thank you;
You're giving us all 2 analysis options where prices will go in which direction, whether it's going up or down is something interesting in trading, so how are we going now, as long as the support of buying $ 6000 doesn't work and under $ 4000 doesn't produce support buys high, then where support buys very high and is awaited by all traders, if we touch below $ 2000 I think that's where they wait for the support to buy very high, thank you for your analysis, respect
the support is not at $2915, but instead at $3000 because of the psychological barrier more than anything else.
Well; I basically marked the S/R levels based on the market chart, but I got your point. Sometimes, it's true.
drawing two arrows going in opposite directions is barely an analysis
and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not. and the support is not at $2915, but instead at $3000 because of the psychological barrier more than anything else and if that is broken we might either see a panic that can drop the price to low levels that you said or we might see a FOMO (another form of panic but in buying direction) like previous times that people see a lower price and start a buying frenzy in which case price can start rising up even and not go any lower than $2900
and regarding the drop i have to say they don't come out of nowhere. at this point there needs to be another strong negative reason for it to drop otherwise it can not. and the support is not at $2915, but instead at $3000 because of the psychological barrier more than anything else and if that is broken we might either see a panic that can drop the price to low levels that you said or we might see a FOMO (another form of panic but in buying direction) like previous times that people see a lower price and start a buying frenzy in which case price can start rising up even and not go any lower than $2900
Hello BTC community;
I’m doing my trading based on Price Action strategy mainly & here is my thinking on BTCUSD right now:
According to the weekly chart; now we are in a range (between 4116.64 to 3247.81) after a long impulsive bearish move (from the level of 6306.91). The general rule of the trading market is: impulsive -->Corrective (range)--> then again impulsive.
So, I’ll not surprised if the market breaks nearest support level 2915.5! On the other hand, buyers need to make initial movements if they wanna start a bullish trend here; based on the daily chart 4116.64 is very vital level. Without breaking this level, there is no way to establish a bullish trend.
If the market breaks support level then the next support level will be 1975-1853.
Thank you;
I’m doing my trading based on Price Action strategy mainly & here is my thinking on BTCUSD right now:
According to the weekly chart; now we are in a range (between 4116.64 to 3247.81) after a long impulsive bearish move (from the level of 6306.91). The general rule of the trading market is: impulsive -->Corrective (range)--> then again impulsive.
So, I’ll not surprised if the market breaks nearest support level 2915.5! On the other hand, buyers need to make initial movements if they wanna start a bullish trend here; based on the daily chart 4116.64 is very vital level. Without breaking this level, there is no way to establish a bullish trend.
If the market breaks support level then the next support level will be 1975-1853.
Thank you;
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